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CARMIKE THEATER CHAIN REPORTS BIG LOSS

May 4, 2010 by · Leave a Comment 

It may be charging more at the concession counters and raking in additional income from 3D screenings, but the Carmike Cinema chain, the fourth-largest movie theater company, nevertheless reported a first-quarter loss of $3.5 million compared with a $3.9 million loss in the same quarter a year ago. In a statement, Carmike chief David Passman blamed the loss on “severe weather conditions as well as higher film rental costs on blockbuster and 3D films as compared to our 2009 first quarter which had mild weather and high-performing movies with lower film costs.” Nevertheless, the company said, moviegoers spent $10.34 on average per visit, up 8 percent from a year ago, principally driven by a 9.4-percent boost in concession prices.